Hello Everyone!The roller-coaster ride in the housing market continues to decline across the state.I know that many sellers are still hanging on to the super high prices from the previous two years
WHO PAYS FOR CLOSING COSTS
Dated: August 4 2022
Views: 7
Hello everyone,
Anytime a buyer uses a loan to purchase a home there will be are closing cost associated with that event. Those fees are incurred by the buyer because various participants i.e. lenders and others have worked for the buyer to originate the loan; therefore, they need to be compensated for their services.
What is interesting payment for these services can be paid for by either the buyers or sellers depending on how the purchase contract is written, and if all parties agree to the terms.
Question is why would a seller pay for a buyers closing costs when the buyer is getting the loan not the sellers?
Great question!
There are many reasons why, but the best one is so that the buyers can purchase their home. The wonderful thing is that either party can pay for those costs to the advantage of both parties. The key is to understand how either participant will profit from these fees.
I have structure hundreds of real estate transactions where I represented buyers and sellers and with the right verbiage and numbers my client always benefited from the deal!
How you ask? Watch this short video where I explain some of the techniques to make this happen.
If you are a buyer or seller and would like to learn more contact me for a personal one-on-one consultation.
check out my youtube channel https://youtu.be/nKDbr4IIyR8
Always here to help,
Jeff
Jeff Tomlinson
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
